Executive Profile: Rich Salgado

Rich Salgado knows sports – on and off the field. After playing football for the University of Maryland, he carved out a niche selling insurance and advising athletes and others on risk. The CEO of Franklin Square-based Coastal Advisors LLC talked about transitioning from college to career and finding a new niche related to sports – including covering the Super Bowl for Fox & Friends.

What was it like playing college football?

It was great. I was fortunate enough to receive a scholarship to the University of Maryland. I was the first in my family to go to college. I earned every bit of it. I had to do a post-graduate year at Milford Academy to get my grades up. All of a sudden I was getting up at 6 a.m. and going to bed at 10:30 at Milford.

How did you balance academics and being a college athlete at Maryland?

They balanced it for you. You had breakfast early in the morning, classes in the morning and at night. You balanced your class schedule, your workload and your football load. I was scared I’d be ineligible if I didn’t do well. I went through hell to get there and wasn’t going to get thrown out. Everyone has their own motivation.

What did you study?

I was a corporate fitness major. First I wanted to be a school teacher. I studied phys ed and realized I didn’t want to go that route. I did an internship in the corporate world where the company pays trainers. That drew my interest.

What was it like when you played your last college game?

For me, playing my last college game, I thought, “This is it. OK, what’s my next step?” That’s really what I felt like. I didn’t know what the next step was. I did think about trying out professionally. I said, “I got to get myself ready to work out for teams. I got to get myself an agent.” I was thinking along those lines. I also needed to get myself a job so I could fund my endeavors in regards to working, getting myself ready and proper food.

Did you try out for a professional team?

I was worked out by two different teams. I even worked out for an Arena Football League team. I said to myself, “This is not meant for me and I’m done.”

Does having been an athlete help with your work today beyond connections?

It teaches you to be disciplined and work with others. You know you have to be in shape, physically and mentally ready. That’s what it teaches you.

How did you find or create a career that’s connected to sports?

I carved out a niche. That’s what Coastal Advisors LLC is. The sexy part of the business is the athlete/entertainment division. I have clients like Adam Schefter, Michael Strahan, Jay Glazer, Kevin Weekes, lead analyst from the NFL Network.

How many professional athletes do you work with?

In the last 20 years, over 500 of them. I understand what these guys have been through, what they go through to get where they’re at. They feel comfortable. I come from that world, not like an outsider who just shows up. It’s a guy who’s been there from a young age. From the age of 13, I’ve been around pro athletes.

What’s it like working with professional athletes?

Everyone’s different. You get low maintenance, high maintenance and middle maintenance. I’m not a hand holder like an agent, a financial guy who worries about losing or making them money. I’m there for a service. I stay in communication with the client. You meet other people through the client.

What are the biggest risks in sports?

The risk is being injured. That’s really the biggest risk. What I always tell guys is, “I’m the best living proof of that issue.” I’m an aneurysm survivor. I had surgery in 2008 on my aneurysm. If you would have told me that issue without being X-rayed or MRI-ed, I would have said, “I don’t believe it.” A lot of these guys have the same mentality. It’s a Tarzan attitude.” I’m unbreakable. Nothing is going to happen to me.”

What was it like dealing with an aneurysm and did it change you?

It taught me anything can happen to anybody. It wasn’t my time to go. I owe everything to Northwell. They found it through an MRI. Their brain aneurysm support unit is unbelievable. I had an issue with water in my ear. They couldn’t find anything. So they did an MRI. And by luck we found it. It wasn’t related. Dr. David Chalif, the surgeon who operated on me, saved my life.

How have concussions and CTE or chronic traumatic encephalopathy fit into insurance?

That’s a touchy subject with regard to athletes and insurance. Once you get three or four concussions, that’s high risk. Everything’s case by case.

Can people get insurance against CTE?

There’s no insurance that predicts the future. It only protects from the future. Right now you can’t get coverage just for that. If you have an issue that causes you to stop playing your profession, it will be covered by your insurance policy.

How did you transition to working with Fox & Friends and media in general?

I got thrown into it. I got asked to come on to be interviewed. I went on and did the interview. They were like, “Wow, you did pretty well for your first time.” I said, “It’s just a conversation and you’re filming it.” They said, “That’s a great attitude to have.” I ended up doing more and more. I was seeking interviews. They gave me a mic and I was doing interviews.

Can you tell me about covering the Super Bowl and any Super Bowl parties?

I’m an ambassador with Saks Fifth Avenue in the men’s wear and I host a party at the Super Bowl with a charity attached to it. We invited guests from teams, players. We had Fox & Friends film live at the event. It was a cold Super Bowl, minus 15 the week of. I was there all week. The game was in a dome. I was a game day correspondent. I did my segment from the stadium the morning of the game and I covered it the week of the Super Bowl.

Do you miss playing?

Yes and no. Don’t get me wrong. I don’t miss the practices. Of course, you miss the playing part. You’re doing it with team mates. They’re your brothers, your family. You’re fighting for the same thing. You’re out there to win. I miss that. But you know what, there’s competitiveness in everything you do. In everything I do, there’s competition.